while we wait for secretary panetta, the u.s. chamber of commerce held its quarterly economic briefing. they talked about automatic spending cuts set to take place next month. here is a look at some of his comments. >> the worst aspect of sequestration is not the overall cut. we know we need to trim spending and cut or change the trajectory of our spending going forward, predominantly entitlement spending. without that, i do not think we will ever get our budget under control. we will be downgraded by the other ratings agencies. we will start to see interest rate increases and the people who hold our debt around the world less interested in holding it. all of those will affect the u.s. economy. when i look at sequestration, i do not look at the cuts per se as impacting the economy. they are not going to help growth in the short term. they have offsetting factors that mitigates the negative. the problem with sequestration is the way the cuts will take place. what we tell our congressmen and since these when we send them to washing